Inflation?


Bruette said:
Is economics as divisive as politics and religion?
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Isn't "Economics" a reality? Whereas Politics and Religion are; well, I don't know what they are!

I have just re-read my original post and I feel it was simply a general comment on prices 20-25 years ago compared to prices today. It was not an admonishment not to buy modern equipment; but, simply a statement about the state of this hobby. I have the right to do what I like and certainly was never telling anyone else, what to do.
 
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NP2626 said:
isn't Economics a reality? Whereas Politics and Religion are; well, I don't know what they are!
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When my oldest daughter went to the University of Maryland, her first major was economics, she changed majors several times before graduated. Those economics books were paid for so I was determined to read them. I was surprised to see so many differing theories. It is not an exact science by any means. The best you can hope for is a consensus among leading experts.

Take what I like to call "Voodoo" economics for example. (Give credit to George H. W. Bush for that phrase) it's been tried over and over and it's always the same, the rich get richer. the economy rises, but eventually falls and the national debt rises steadily. That is one theory most leading economists agree on, but politicians keep trying to sell us on it and many of us keep buying.
 
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Being frugal has nothing to do with financial status. From my experience the most frugal customers I have had were also the most affluent.
 
D&J RailRoad said:
Are you sure about those numbers Noah? I think it would be a bit difficult doing an analysis of a corporate profit and loss on an organization the size of Horizon Hobbies.
I certainly wouldn't be throwing rocks at a business unless I knew for sure the inside details.
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The only numbers talked about were my smartphone example. Of course I'm not privy to HH numbers but I not only deal with them in the model train market but in the RC radio and model market as well. I really don't think they are hurting. My main point is that you can't put them in the same category as the little, for lack of a better term, mom and pop, vendors who bring a niche, very limited run product to market more as a labor of love than anything else. I think some here have tried to do that. Personally, I do believe there is a huge markup on HH products and I think it's greed but that's strictly my opinion.
 
Selector said:
I was a Military Psychologist all my adult life. That and a teacher at university after I retired.
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Crandell: That explains a lot about the tone of your remarks.

Selector said:
If you feel belittled, that is also your choice, and I won't apologize for it.
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Don't expect one, I'm from Jersey, remember? I just consider the source.

We all make choices, good or bad, and we frequently repeat our choices, good or bad. You totally missed the point of my initial comment, that being that no one is forced to buy anything he or she doesn't want to buy. That's not my problem, as I determine what I want, and if I want that brass locomotive valued at $2,000, that you used as an example, I'll buy it. But my decision not to buy it, doesn't make me any less serious a modeler. I'm just naturally cheap, which goes along with the taxes I pay for the privilege of living near the Jersey Coast.

FWIW, I have one of Rapido's SW1200s on pre order along with one of their RS11s and an RDC. By preordering through my usual vendor, I get the best price possible.

Boris
 
Noah_Count said:
The only numbers talked about were my smartphone example. Of course I'm not privy to HH numbers but I not only deal with them in the model train market but in the RC radio and model market as well. I really don't think they are hurting. My main point is that you can't put them in the same category as the little, for lack of a better term, mom and pop, vendors who bring a niche, very limited run product to market more as a labor of love than anything else. I think some here have tried to do that. Personally, I do believe there is a huge markup on HH products and I think it's greed but that's strictly my opinion.
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I have one of those new $700 phones, and it works just as well as the $1500 one. It can make the same calls, uses the same internet, and has all the same guts as the more expensive one. What it doesn’t have is a screen that has such high resolution I’d have to view an image from it under a microscope to see how good it is. I did spring for the extra $50 to double its internal storage. I just can’t justify an extra $750 to get something that I can’t tell the difference just so I can have the newest and bestest one.
 
NP2626 said:
I have just re-read my original post and I feel it was simply a general comment on prices 20-25 years ago compared to prices today. It was not an admonishment not to buy modern equipment; but, simply a statement about the state of this hobby. I have the right to do what I like and certainly was never telling anyone else, what to do.
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That's the way I read it.

Boris
 
Bruette said:
Take what I like to call "Voodoo" economics for example. (Give credit to George H. W. Bush for that phrase) it's been tried over and over and it's always the same, the rich get richer. the economy rises, but eventually falls and the national debt rises steadily. That is one theory most leading economists agree on, but politicians keep trying to sell us on it and many of us keep buying.
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Amazing, how they can continue to sell the same snake oil over and over.

Bruette said:
Being frugal has nothing to do with financial status. From my experience the most frugal customers I have had were also the most affluent
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I have noticed that also.

Boris
 
Bruette said:
Is economics as divisive as politics and religion?
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More so. Politics is derived from economic theory, Religion also, but to a lesser extent. The Protestant Reformation, was brought about partially, because of a scheme to raise money for the construction of a Basilica in Rome. Economics gets lost in the emotion of the argument.

Boris
 
Bruette said:
Being frugal has nothing to do with financial status. From my experience the most frugal customers I have had were also the most affluent.
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In this case; however, my frugality should not be confused with my being affluent! Unless you meant to say effluent?
 
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Mike....

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https://www.bing.com/videos/search?...D60E7DD56F0E8F3FE51FD60E7DD56F0E8F3&FORM=VIRE

Just wait until the credit card's monthly statement arrives and the Mrs. opens it. I'll blame the money I spent on the RDC on inflation!!!

Greg
 
migalyto said:
Heck no, I’m embracing it. Inflation is producing some really nice locomotives, and rolling stock. :)
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Agree fully. The inflation means it's likely to stick around and that I'll continue to have a choice of decent quality rolling stock and locomotives, often somewhat improved over their previous versions.
Greg@mnrr said:
Is anyone from the Forum going to quit the model railroading hobby because of inflation?

Greg
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Not any time soon, per my reply to migalyto above.
 
Bruette said:
Is economics as divisive as politics and religion?
NP2626 said:
Isn't "Economics" a reality? Whereas Politics and Religion are; well, I don't know what they are!
Bruette said:
When my oldest daughter went to the University of Maryland, her first major was economics, she changed majors several times before graduated. Those economics books were paid for so I was determined to read them. I was surprised to see so many differing theories. It is not an exact science by any means. The best you can hope for is a consensus among leading experts.
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There is a huge difference in the basic principles of economics, versus how the principles combine into economic systems. Unfortunately in common speaking people refer to both as simply "economics". The basic principles (what I call economics 101) include things that are, as NP2626 says, a reality and include things like supply and demand, price that the market will bear, cost vs benefit, pricing ceilings and floors, the drive to zero profit, etc. Economic systems gets into currencies, credit, forms of government (capitalism vs communism vs etc.), and how much the government does or does not do things to effect and change the natural ebb and flow and cycles of economic trends. Yes this latter form of economics is an infinite bundle that is not science, is greatly impacted by politics and culture, and which is why economics majors have lots of fodder for PhD dissertations.
 
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